SOURCE: Brazil Gold Corp.

January 28, 2011 09:00 ET

Brazil Gold Aggressively "Prospecting" in Brazil

Sees Accelerated Progress Ahead

BELLEVUE, WA--(Marketwire - January 28, 2011) - Brazil Gold Corp. (OTCBB: BRZG) ("Brazil Gold"), a precious metals exploration company focused on Brazil, today announced that its new management team has stepped up its prospecting for mineral exploration opportunities in the Amazon and the Brazilian Shield.

"Brazil Gold is off to a terrific start in 2011," said Brazil Gold President Phillip Jennings. "In the past few weeks, we announced the addition of three top industry executives to our management team and signed the Luziania Gold Project LOI. 

"The Amazon region remains under-developed and under-explored. Capitalizing on a substantial investment of time and resources in the Amazon in 2010, we are now leveraging the knowledge and industry contacts gained to identify, evaluate and build a portfolio of valuable development opportunities in this mineral rich environment. Now, with the addition of our new management, we are expanding our search to other areas in Brazil, most notably the Brazilian Shield."

"Our strategy is founded, in part, on building a diversified portfolio of properties in 2011," Mr. Jennings said. "This enables Brazil Gold to gain economies of scale by rapidly building a strong regional base of mining operations supported by our growing in-house team of industry experts in legal, political, financial, regulatory and administrative functions."

"While we are pleased with our early progress in 2011," Mr. Jennings said, "We are aggressively accelerating our prospecting in the region. With a growing number of properties now in various stages of our evaluation, we are already entering negotiation on additional mineral properties offering excellent value. I am confident we will achieve and report solid progress in the weeks ahead."

Over the past few weeks, Brazil Gold has announced it named Leigh Freeman to its Board of Directors and appointed Dr. Charles Thorman and Jose Antonio Pineda as advisory directors. Additionally, Brazil Gold signed a non-binding Letter of Intent to acquire the Luziania Gold Project in Goiás State, Brazil. "The familiarity of our advisory directors with the Luziania project gives Brazil Gold confidence that we can evaluate the opportunity effectively and efficiently during the specified due diligence period," Mr. Jennings added.

Commenting on the Brazilian mineral landscape, newly appointed Board member Leigh Freeman said, "I am impressed with the prospective value of the properties we are pursuing. They all have certain attributes in common:

  • Good access
  • Owned with clear title and mineral rights, by people known to be honest and competent
  • The potential for major commercial mineral discovery, or greatly expanded production, with smart exploration and development as well as the application of conventional, modern exploration methods such as remote sensing, airborne and/or ground geophysics."

Forward-Looking Statements
Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Words such as "expects," "intends," "plans," "may," "could," "should," "anticipates," "likely," "believes" and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. The statements by our officers, and other statements regarding optimism related to the business, expanding exploration and development activities and other statements in this press release are forward-looking statements. Such statements are based on current expectations, estimates and projections about the Company's business. Actual results could vary materially from the description contained herein due to many risk factors that affect the industry the Company operates in and other risk factors listed from time to time in the Company's Securities and Exchange Commission (SEC) filings under "risk factors" and elsewhere. The forward-looking statements contained in this press release speak only as of the date on which they are made, and the Company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.

Contact Information